Product Code: RP-ID-10236272 |
Published Date: 21 Oct 2022 |
Region: NA |
Category: Healthcare & Pharmaceuticals |
Report ID: 10236272
Market Overview:
Global Bone Growth Stimulator Market Size study, by Product (Bone Growth Stimulation Devices, Bone Morphogenetic Proteins, Platelet-Rich Plasma), by Application (Spinal Fusion Surgeries, Delayed Union & Non-union Bone Fractures, Oral and Maxillofacial Surgeries, Others), by End-User (Hospitals and Clinics, Home Care, Academic & Research Institutes) and Regional Forecasts 2019-2026
Global Bone Growth Stimulator Market is valued approximately at USD 1.14 billion in 2018 and is anticipated to grow with a healthy growth rate of more than 5.5% over the forecast period 2019-2026. Bone growth stimulator is a type of device which stimulates the natural healing of bone by transferring low-level pulses of electromagnetic energy to injury or fusion site. For the healing purpose, these devices use several techniques such as stimulations or ultrasounds. Bone growth stimulator is helpful after a multi-level fusion process or for patients who have specific comorbidities, such as diabetes or smoking habit. It also helps in the production of new cell and works on all fractures. It is increasingly used for the healing of long bones such as tibia and in procedures such as spinal fusions, that are complex to heal. Rising patient preference for non-invasive and minimally invasive surgical treatments, surging incidences of osteoarthritis & hip fractures, along with growing technological advancements are the few factors responsible for high CAGR of the market over the forecast period. For instance, Credible reports has revealed that around 1.6 million hip fractures occur around the world in each year and is expected to rise to between 4.5 million and 6.3 million by 2050. Moreover, growing obese and diabetic population along with the procedural advantages offered by bone stimulation devices in treatment of bone fracture is another factor which influencing the growth of market in the upcoming years. However, limited availability of medical reimbursement for bone stimulation products along with side effects associated with orthopedic treatment are the few factor anticipated to restraining the growth of global Bone Growth Stimulator market during the forecast period.
The regional analysis of global Bone Growth Stimulator Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the improved reimbursement policies, improving healthcare infrastructure, and increasing incidences of obesity and fractures in the region. However, Asia-Pacific is anticipated to exhibit highest growth rate / CAGR over the forecast period 2019-2026. Factors such as increasing aging population and rising incidences of bone fractures & spinal fusion surgical procedures would fuel-up the adoption of bone growth stimulator in the Asia-Pacific region.
Major market player included in this report are:
Orthofix International N.V.
DJO Finance LLC
Zimmer Biomet Holdings, Inc.
Bioventus LLC
Medtronic PLC
Stryker Corporation
Arthrex, Inc.
Isto Biologics
Harvest Technologies (A Terumo BCT Company)
Depuy Synthes (A Subsidiary of Johnson & Johnson)
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product:
Bone Growth Stimulation Devices
Bone Morphogenetic Proteins
Platelet-Rich Plasma
By Application:
Spinal Fusion Surgeries
Delayed Union & Non-union Bone Fractures
Oral and Maxillofacial Surgeries
Others
By End-User:
Hospitals and Clinics
Home Care
Academic & Research Institutes
By Region:
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017
Base year – 2018
Forecast period – 2019 to 2026
Target Audience of the Global Bone Growth Stimulator Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
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